Berjaya Food Berhad (BJFOOD, 5196)

• Share price closed 1.63% higher at RM0.935 on Tuesday.

• BJFOOD broke out from its resistance level of RM0.92 yesterday with relatively high buying volume.The share price had retraced from its all-time high of RM1.17 since February. Coupled with indicators showing uptick momentum, the share price is expected to propel higher.

• Resistance levels are identified at RM0.97 (R1) and RM0.98 (R2).

• On the flipside, support levels are pegged at RM0.905 (S1) and RM0.885 (S2).

Source: Rakuten Research - 5 Apr 2023

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